The retail industry is one of the most consistently evolving industries. For example, the invention of the internet brought along with it the concept of online buying, which eventually evolved into e-commerce. Due to the high probability that retailers will continue to innovate, it is important that offices of finance within the retail industry are flexible and able to adapt to these changes.
In order to achieve this flexibility, the office of finance needs to move away from the outdated financial close tools that they may still be using: spreadsheets, binders, and manual processes. Transitioning from these ineffective methods to an automated close solution enables retail organizations to overcome their biggest challenges:
- Time-consuming data entry
- Manually handling high transaction volumes
- Inability to scale and streamline financial processes
Discover how Adra by Trintech helps retail accountants streamline their processes in order to prepare for the next innovation that will inevitably impact their organization.Download File